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The real estate market remains strictly regulated. Since July, more than 30 cities have tightened their housing market policies.
Since the second half of this year, the central government has repeatedly emphasized “no housing and housing speculation,” and local regulatory policies have continued. The continued rise in policies has slowed the rise in new home prices in many places, and from the perspective of the housing market in December, regulation remained tight.
On December 14, the National Statistical Office released changes in commercial home sales prices in 70 large and medium-sized cities in November 2020. Judging from changes in the price of new homes, the increase in price in November has dropped significantly. Among the 70 large and medium-sized cities, the number of cities with rising new house prices fell to 36, the lowest since March, while the number of cities with falling prices rose to 28, reaching the highest value since April. In terms of growth rate, the month-to-month growth rate of each tier city has converged to a low level of 0.1% -0.2%.
Fang Ying, Shanghai research director at the Zhongzhi Research Institute, noted that the most important factor in slowing new house price growth is continued policy enforcement. Since July, central and local controls have been tightened to stabilize market expectations. The central government emphasizes rapid response and elimination of problems encountered, and specific timely political measures. Cities with regulatory policies have gradually expanded from second-tier hot cities in the third quarter to some third- and fourth-tier cities. At the same time, in the context of a relatively sufficient short-term supply in the market, real estate companies will inevitably take promotion and discount action on the price side to offset performance and change price by volume. There are also some cities that have restricted credit and increased down payment rates.
Regulation of the housing market remained strict in December and many cities increased the regulation of the housing market.
Only in the first half of December, many cities increased their regulation of the real estate market.
On December 1, the official WeChat account of the Xi’an Office of Housing and Urban-Rural Development issued the “Notice on Further Strengthening of Housing Market Regulation.” The “Notice” clearly adjusted the down payment rate on business loans for the purchase of a second home and adjusted the down payment rate on provident fund loans; Strengthen the management of the pre-sale of commercial housing and strengthen the supervision of the pre-sale funds. Among them, for households in Xi’an that have a living area of 90 square meters or less: for the purchase of a second housing area of 144 square meters or less, the down payment rate for business loans should not be less than 40%; for the purchase of a second area of housing For those with more than 144 square meters, the down payment rate for business loans is not less than 50%.
Ningbo City, Zhejiang Province issued the “Supplemental Notice on Maintaining and Promoting Stable and Healthy Development of the City Real Estate Market” on December 10 on December 10. The “Notice” focuses on strengthening the management and control of home purchase qualifications, strengthening the management and adjustment of the renaming of home purchase contracts and the management of gift transactions of housing. Four aspects, including the housing loan advance index, have complemented and improved the regulation and control policy of July 6. Among them, it is clear that the purchase of a house less than two years after the divorce should review the family house before the divorce, and the down payment ratio of the second home will be increased to 60% for buyers who have not paid off the loan, buy the home again and apply for a business loan.
Industry experts believe that the introduction of property market regulation policies in cities like Xi’an and Ningbo at the end of the year reflects the continued policy emphasis on tightening regulation and tight control of the market, and curbing speculation. in the real estate market.
Pan Hao, a senior analyst at the Shell Research Institute, noted that in July this year, the Ningbo Municipal Government and the Office of Housing and Urban-Rural Development issued two regulatory policies to stabilize house prices and curb property speculation. This policy aims to end the phenomenon of using parents to seek refuge, divorce and donations to increase the number of home purchases. Also, compared to the 2017 policy, this policy also added a 40% down payment rate for new requests that have already been settled, and pending requests increased from 40% to 60%. It can be seen that the loan threshold has also increased accordingly. The policy has been updated in many ways to completely curb the overheated development of the market.
The Shell Research Institute believes that since late November, the control density has increased again. In the medium and long term, real estate regulation will continue the basic tone of housing and non-speculation, stabilize fluctuations in house prices, continue to deepen financial regulation of housing, and strictly control leverage at both ends of supply and demand. The momentum from house price increases in 2021 will weaken further.
Since July, more than 30 cities have tightened their policies to control the real estate market.
According to data from the Centaline Property Research Center, since July, more than 30 cities, including Hangzhou, Dongguan, Ningbo, Inner Mongolia, Zhengzhou, Shenzhen, Nanjing, Changchun and Haikou, have introduced regulatory policies to cool down the real estate market.
According to Shell Research Institute statistics, Changzhou, Shenyang, Hangzhou, Dongguan, Wuxi, Shenzhen, Nanjing, Ningbo, Dalian, Chengdu, Maanshan, Shiyan, Tangshan, Yinchuan, Xi’an, Xuzhou, Shaoxing, Lishui counties, Quzhou, Taizhou and Haiyan A total of 22 Huangshi cities have issued restrictions on sales and purchases to regulate the development of the real estate market and raise the threshold for real estate loans and resale to prevent market overheating and further combat investment demand .
Zhang Dawei, chief analyst at Centaline Property, said that the first half of 2020, when real estate regulation is the most relaxed, has passed and tighter regulation is inevitable. From the perspective of the domestic market, there were more active cities from July to November, especially cities such as Shenzhen, Dongguan, Ningbo, Nanjing, Chengdu, and Hangzhou. The Wuhan market, which deserves the most attention, also showed an obvious stabilization, with a significant increase from the previous month. From the perspective of house price expectations, the number of visitors in most cities has increased significantly compared to before, and house prices have shown an upward trend.
Zhang Dawei said that as the market heats up, the policy orientation to maintain market stability has changed significantly since July. In the following months, there were tightening policies in several cities and curbing the market overheating has become a new feature of regulatory policies. The accumulated number has exceeded 32 cities. Various tightening policies have been introduced. Regarding the general trend, the trend of rising house prices in December is expected to continue, but more and more control policies are expected to stabilize the market and house prices to continue to slow down towards the end of the year .
The paper journalist Ji Simin
